Europe Market Open: BoJ to decide on bond buying reduction plans in July, ECB & Fed speak ahead
14/6/2024
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- APAC stocks were mostly subdued after the mixed performance stateside where soft data took centre stage, while participants turned their attention to the BoJ policy announcement.
- The BoJ maintained rates as expected but defied expectations for an immediate reduction of bond purchases, instead, it will decide on a specific bond-buying reduction plan at the next meeting.
- Nikkei 225 recovered early losses, USD/JPY advanced to just shy of the 158.00 level, and 10-year JGB futures tracked the recent gains in global peers and were further boosted after the BoJ policy announcement.
- European equity futures indicate a positive open with Euro Stoxx 50 futures up 0.3% after the cash market closed lower by 2.0% on Thursday.
- Looking ahead, highlights include Swedish CPI, US UoM Survey, BoE/Ipsos Inflation Attitudes Survey, Comments from BoJ’s Ueda, ECB’s Lane, Schnabel, Lagarde & de Guindos, Fed’s Goolsbee & Cook.
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